Gas prices in Florida are down to their lowest average since March 4th, according to the latest figures from AAA. Statewide, the average cost for a gallon of gas is $3.79.
Less than two months ago Floridians were strained by a record $4.89 average, with some areas seeing prices over $5.00 a gallon. With the current average, drivers will pay around $57 to fill up an average 15-gallon tank, $16.50 less than they paid in June.
“Falling oil prices and dropping gasoline demand has paved the way for the recent pump price plunge,” said AAA’s Mark Jenkins. “The downturn should continue this week, after another round of big losses in both oil and gasoline futures markets.”
The cost for a barrel of crude oil currently sits at around $89, a drop of 27% since June. The national average still sits at $4.06, but is moving in the same direction as Florida: down.
“The fuel market seems to be locked in bearish territory,” Jenkins continued. “Florida drivers in some markets are beginning to find gas prices in the $3.60s, if not lower. The state average could very easily drop to that price point in the next week or two. However, it’s worth remembering that the fuel market has proven to be extremely volatile this year, and trends can change rather quickly if something reignites concerns about fuel supplies.”